IRS Confirms Illegal Immigrant Tax-Refund Ruling, Sparking GOP Outcry

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By John D. McKinnon WASHINGTON--The Internal Revenue Service on Monday confirmed it would allow illegal immigrants benefiting from President Barack Obama's recent executive action to file for tax refunds for prior years, fueling an outcry from Republicans. The IRS explanation ...

Dollar Falls Against Yen as Nikkei Disappoints

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Hiroyuki Kachi The dollar lost 0.4% against the yen Tuesday, as a lackluster Tokyo stock market and jaw boning by a Japanese government adviser took the legs from the greenback's overnight rally, pushing it below the Y120 mark. Around ...

Australia's Abbott Drops Health-Care Fee Plan

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Rob Taylor CANBERRA, Australia--Australian Prime Minister Tony Abbott on Tuesday dropped plans to introduce an unpopular patient co-payment fee to offset rising costs in the nation's health-care system. Mr. Abbott unveiled the proposal for a co-pay fee in the ...

NXP Semiconductor Bets $12 Billion on Smarter Cars

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Don Clark The race to build smarter cars is prompting another race--to supply the chips that make those vehicles clever. NXP Semiconductor Inc. stepped on the gas on Monday, agreeing to buy Texas-based Freescale Semiconductor Inc. in a cash-and-stock ...

Athabasca Oil Receives Payment From PetroChina Canadian Unit

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Chester Dawson CALGARY-- Athabasca Oil Corp. on Monday said it received the first of three payments owed to it by one of China's largest state-run energy companies, part of a deal announced last summer to complete the sale of ...

Australia Central Bank Holds Rates

TODAY: March 3, 2015 PUB DATE: March 3, 2015

SYDNEY--Australia's central bank kept its benchmark interest rate unchanged at a record low 2.25% Tuesday to avoid stoking an overheating housing market that risks derailing a fragile economic recovery. Still, the Reserve Bank of Australia left open the option of ...

China Monetary Policy Remains Neutral

TODAY: March 3, 2015 PUB DATE: March 3, 2015

BEIJING--China's monetary stance has remained neutral despite recent cuts in interest rates and banks' reserve requirement ratio, the Financial News reported Tuesday, citing former central bank vice governor Wu Xiaoling. "There are some misunderstandings about the monetary policy, that is, ...

Merck Profit Slips Despite Revenue Gains

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Neetha Mahadevan FRANKFURT--German pharmaceutical company Merck KGaA said Tuesday that fourth-quarter net profit fell slightly but revenue surged on growth in all its divisions and its acquisition of AZ Electronics. Net profit for the quarter ended Dec. 31 fell ...

Chip Maker Places A $12 Billion Bet On Smarter Cars

TODAY: March 3, 2015 PUB DATE: March 3, 2015

(FROM THE WALL STREET JOURNAL 3/3/15) By Don Clark The race to build smarter cars is prompting another race -- to supply the chips that make those vehicles clever. NXP Semiconductor Inc. stepped on the gas on Monday, agreeing to ...

Greece Faces Cash Crunch

TODAY: March 3, 2015 PUB DATE: March 3, 2015

BRUSSELS--Greece faces a cash crunch in the coming weeks with little hope of financial help soon from the rest of the eurozone, threatening a serious blow to the country's fragile economy. Though the Greek government secured an extension of its ...

Japan Average Wages Rise

TODAY: March 3, 2015 PUB DATE: March 3, 2015

TOKYO--Average total wages in Japan grew 1.3% on year in January, as pay raises last year and larger bonuses this winter gave a modest lift to the income of average workers. The rise marked the 11th straight year-on-year gain, the ...

FHFA Puts New Rules on Delinquent Loan Sales--Update

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Joe Light Investors who take over delinquent mortgages backed by Fannie Mae and Freddie Mac must try harder to reach agreements that let borrowers keep their homes before kicking them out, according to a new set of rules released ...

Australian Home Building Permits Rise, Current Account Deficit Narrows

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By James Glynn SYDNEY--The number of Australian home building permits rose sharply in January from December, resuming an upward trend that is being fanned by record-low interest rates. Approvals to build or renovate houses and apartments rose 7.9% from December, ...

Oil Ticks Higher but Stays Volatile; Brent Above $60 a Barrel

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Eric Yep Crude-oil futures rebounded in Asian trade Tuesday after the previous day's drop as the oil market continues to see-saw amid a rebalancing of underlying oil supply and demand, particularly in the U.S. On the New York Mercantile ...

South Korea's Consumer Prices Up 0.5% on Year in February

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Kwanwoo Jun SEOUL--South Korea's consumer price index rose 0.5% on the year in February, data showed Tuesday. The February reading was less than the median forecast for a 0.8% increase in a Wall Street Journal survey of economists. The ...

GOP Options Narrow on Homeland Security Funding

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Siobhan Hughes WASHINGTON--Senate Democrats rejected on Monday a GOP bid to open negotiations on competing House and Senate versions of legislation to fund the Department of Homeland Security, leaving Republicans with dwindling options in their attempts to use the ...

NTT Communications to Buy Stake in Data Center Operator

TODAY: March 3, 2015 PUB DATE: March 3, 2015

Nippon Telegraph & Telephone Corp. (NTT, 9432.TO) unit NTT Communications Corp. will buy an 86.7% stake in European data center operator e-shelter. NTT Communications said e-shelter's facilities in Germany, Switzerland and Austria will complement NTT's data centers in the U.K., ...

Southeast Asian Nations Seek Common Framework for Capital Raising

TODAY: March 3, 2015 PUB DATE: March 3, 2015

By Gaurav Raghuvanshi SINGAPORE--Regulators of Singapore, Malaysia and Thailand have signed an agreement to facilitate cross-border sales of equity and debt securities in the Association of Southeast Asian Nations. The Monetary Authority of Singapore, Singapore Exchange Ltd., Securities Commission Malaysia ...